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☆ RBC's Helima Croft talks escalating military tensions between Venezuela and Guyana
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC's Helima Croft talks escalating military tensions between Venezuela and GuyanaHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Helima Croft, Brian Sullivan, “ Organizations: CNBC Locations: Venezuela, Guyana

☆ OPEC is 'not poised for anymore major departures', says RBC's Helima Croft following Angola's exit
▼ + stars: | 2024-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPEC is 'not poised for anymore major departures', says RBC's Helima Croft following Angola's exitHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: RBC's Helima, Brian Sullivan, “ Organizations: OPEC, CNBC

☆ Iran-backed attacks on the U.S. is a critical inflection point in the Middle East, says Helima Croft
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIran-backed attacks on the U.S. is a critical inflection point in the Middle East, says Helima CroftHelima Croft, Global Head of Commodity Strategy at RBC Capital Markets, discusses ongoing tensions in the Middle East and the resulting price of oil.

Persons: Helima Croft Helima Croft Organizations: Iran, Global, RBC Capital Markets

☆ Biden faces demands from Republicans in Congress to strike Iran after U.S. troop deaths
▼ + stars: | 2024-01-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

Kevin Dietsch | Getty ImagesCongressional lawmakers are demanding President Joe Biden strike Iran after three U.S. troops were killed Sunday night in Jordan in a drone strike claimed by the Islamic Resistance of Iraq, an Iranian-backed militia group. Iran has not commented on the attack, while Jordan's government denied it took place on its soil. "I am calling on the Biden Administration to strike targets of significance inside Iran, not only as reprisal for the killing of our forces, but as deterrence against future aggression," Republican Sen. Lindsey Graham said in a statement. Elmurod Usubaliev | Anadolu | Getty ImagesThe attack marks another regional escalation in a war that the Biden administration has tried to contain. Meanwhile, Lebanese Shia militia group Hezbollah and Israel are exchanging fire along the Israeli-Lebanese border, while Iran earlier this month struck targets in Iraq, Syria and Pakistan.

Persons: Lindsey Graham, Kevin Dietsch, Joe Biden, Republican Sen, Roger Wicker, Biden, Elmurod, Helima Croft Organizations: Sen, U.S, Capitol, Getty, Islamic, Hamas, Biden Administration, Republican, Senate Armed Services Committee, Anadolu, Lebanese Hezbollah, RBC Capital Markets Locations: Washington , DC, Iran, Jordan, Iraq, Iranian, U.S, Israel, Ankara, Turkiye, Yemeni, Gaza, Israel's, Yemen, Lebanese, Syria, Pakistan, Iraqi, United States

☆ No indication U.S. strikes are changing calculation of the Houthis, says RBC's Helima Croft
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNo indication U.S. strikes are changing calculation of the Houthis, says RBC's Helima CroftHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: RBC's Helima Croft, Brian Sullivan, “ Organizations: CNBC

☆ Oil prices rise as US-led strikes in Yemen raise fears of wider conflict
▼ + stars: | 2024-01-12 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —US-led airstrikes on Houthi targets in Yemen rattled energy markets on Friday, sending oil prices sharply higher. Oil prices rose sharply after US-led strikes on multiple Houthi targets in Yemen in response to repeated attacks on commercial shipping in the Red Sea. Another concern is that oil facilities in Saudi Arabia could get hit by a retaliatory strike from the Houthis. In 2019, roughly 5% of world oil supply was briefly knocked offline in a large-scale drone attack on Saudi oil facilities. Despite Friday’s gains, oil prices remain lower than where they were before the October 7 attacks by Hamas against Israel due to concerns about oversupply.

Persons: Brent, “, ”, Robert Yawger, ” Yawger, John Kirby, CNN’s Becky Anderson, ” Kirby, ” Matt Smith, ” Helima Croft, Croft, ” Croft Organizations: New, New York CNN, Mizuho Securities, White House National Security Council, RBC Capital Markets, CIA Locations: New York, Yemen, East, Red, Iran, Saudi Arabia, Saudi, Gulf of Oman, Hormuz

☆ These Middle East flashpoints could trigger regional conflict that impacts oil prices
▼ + stars: | 2024-01-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +9 min

There are several key flashpoints where the Israel-Hamas war could escalate into a regional conflict that has a material impact on oil, according to the firm. Those flashpoints are the Red Sea, Lebanon and Iraq, analyst Helima Croft wrote in a note to clients this week. Crude prices fell Tuesday despite renewed attacks by Houthi militants in the Red Sea over the weekend. Maersk stopped shipping through the Red Sea again and is rerouting vessels around the Cape of Good Hope in South Africa. Some 12% of global trade and about 3 million barrels of crude oil pass through the Red Sea per day, according to RBC Capital Markets.

Persons: Helima Croft, Croft, Adi Imsirovic, Imsirovic, Steven Schoenfeld, Schoenfeld, Goldman Sachs, Tehran's Houthi, Donald Trump ratcheted, Biden, Benny Gantz, Israel, Saleh al, Joe Biden, Trump, Qasem Soleimani Organizations: RBC Capital Markets, Maersk, West Texas Intermediate, CNBC, Tuesday, Traders, Investors, Center for Strategic, International Studies, U.S, Prosperity, U.S . Navy, U.S . Central Command, JPMorgan, Israel Defense Forces, Three U.S, Washington Locations: Israel, Sea, Lebanon, Iraq, Red, Danish, Libya, Russia, Ukraine, Iran, U.S, Yemen, The U.S, Mandeb, Aden, Britain, Hangzhou, South Africa, Suez, Asia, Europe, Hormuz, Islamic Republic, Tehran, Beirut, Croft, Erbil, Three

A picture taken during an organised tour by Yemen's Houthi rebels on November 22, 2023 showing the Galaxy Leader cargo ship approaching the port in the Red Sea off Yemen's province of Hodeida. Oil prices fell Tuesday as traders monitored rising tensions in the Red Sea amid a backdrop of record U.S. crude production and worries about demand in China. Crude prices had jumped more than 2% earlier in the trading session on escalating tensions in the Red Sea, a crucial global trade chokepoint. And Iran on Monday deployed a destroyer to the Red Sea, according to the country's Tansim news agency. The move by Tehran comes after U.S. Navy helicopters destroyed three boats of Iran-backed Houthi rebels.

Persons: Yemen's Houthi, Brent, Helima Croft, Croft, Adi Imsirovic, Ayatollah Ali Khamenei, Neil Beveridge, Lloyd Organizations: Galaxy Leader, The West Texas Intermediate, RBC Capital Markets, CNBC, Center for Strategic, International Studies, Monday, U.S . Navy, Navy, U.S . Central Command, Energy, Prosperity Locations: Red, Yemen's, Hodeida, China, The, Iran, Tehran, Singapore, Hangzhou, Brent, Israel, Gaza, Suez, Africa, The U.S

☆ The longer the Israel-Hamas War, the greater the risk to global shipping, says Helima Croft
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe longer the Israel-Hamas War, the greater the risk to global shipping, says Helima CroftHelima Croft, Global Head of Commodity Strategy at RBC Capital Markets, discusses rising tensions in the Middle East.

Persons: Helima Croft Helima Croft Organizations: Global, RBC Capital Markets Locations: Israel

Saudi Arabia, Russia and other members of OPEC+ pump more than 40% of the world's oil, or some 43 million bpd. Two OPEC+ sources told Reuters a preliminary agreement has been reached for a cut of more than 1 million bpd. This would include Saudi Arabia extending the voluntary cut of 1 million bpd it has had in place since July plus additional contributions from other members, sources said. "It depends on other group participants, could be near or more," the third source said when asked about the possible 1 million bpd cut. The OPEC+ meeting coincides with the opening of the United Nations' COP28 climate summit being hosted by OPEC member the United Arab Emirates.

Persons: Dado Ruvic, Helima Croft, Alex Lawler, Olesya Astakhova, Maha El Dahan, Ahmad Ghaddar, David Goodman, Jason Neely Organizations: REUTERS, OPEC, Reuters, Saudi, Brent, RBC Capital Markets, International Energy Agency, United Nations, United, United Arab Emirates, Thomson Locations: OPEC, MOSCOW, DUBAI, Saudi Arabia, Russia, United Arab

☆ RBC's Helima Croft talks looming OPEC+ meeting
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC's Helima Croft talks looming OPEC+ meetingHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Helima Croft, Brian Sullivan, “ Organizations: CNBC

☆ OPEC doesn't want to go back to 2015 when they lost control of the market, says RBC's Helima Croft
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPEC doesn't want to go back to 2015 when they lost control of the market, says RBC's Helima CroftHelima Croft, RBC Capital Markets global head of commodity strategy, joins 'Squawk Box' to discuss the state of oil markets, the reasons behind a delay in the OPEC+ meeting, and more.

Persons: RBC's Helima Croft Helima Croft Organizations: OPEC, RBC Capital Markets

☆ Oil slips 1% on concerns over delayed OPEC+ meeting
▼ + stars: | 2023-11-23 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. West Texas Intermediate crude slid 75 cents, or 1%, to $76.35 after dropping as much as 5% in the previous session. In a surprise move on Wednesday, the Organization of the Petroleum Exporting Countries and allies including Russia delayed a ministerial meeting at which they were expected to discuss oil output cuts to Nov. 30. OPEC+ members Angola and Nigeria are aiming for higher oil output, officials told Reuters on Thursday. "However, it may be more difficult to bridge the gap with Angola, which has been a moodier member of the producer group since it joined in 2007."

Persons: Angus Mordant, Helima Croft, Phil Flynn, Nia Williams, Natalie Grover, Arathy, Andrew Hayley, Mark Potter, David Goodman, Alexandra Hudson, Marguerita Choy, Jonathan Oatis Organizations: REUTERS, Brent, . U.S . West Texas, U.S, Organization of, Petroleum, Producers, Reuters, Capital Markets, Price Futures Group, Thomson Locations: Loving County , Texas, U.S, ., Russia, OPEC, Angola, Nigeria, Saudi Arabia, Chicago, British Columbia, London, Houston, Beijing

☆ Oil slips 2% on growing angst over delayed OPEC+ meeting
▼ + stars: | 2023-11-23 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. West Texas Intermediate crude slid $1.37, also about 1.4%, to $75.73 after dropping as much as 5% in the previous session. In a surprise move on Wednesday, the Organization of the Petroleum Exporting Countries and allies including Russia delayed to Nov. 30 a ministerial meeting at which they were expected to discuss oil output cuts. Angola, Congo and Nigeria are seeking to raise their 2024 supply quotas above the provisional levels agreed at the June meeting of the OPEC+ producer group. The questions over OPEC+ supply come as data showed that U.S. crude stocks jumped by 8.7 million barrels last week, much more than the 1.16 million build analysts had expected.

Persons: Angus Mordant, Helima Croft, Tamas Varga, Natalie Grover, Arathy, Andrew Hayley, Mark Potter, David Goodman, Alexandra Hudson Organizations: REUTERS, Brent, . U.S . West Texas, Organization of, Petroleum, Producers, Capital Markets, Alexandra Hudson Our, Thomson Locations: Loving County , Texas, U.S, ., Russia, OPEC, Angola, Congo, Nigeria, Saudi Arabia, London, Houston, Beijing

☆ Oil slips 1% on growing angst over delayed OPEC+ meeting
▼ + stars: | 2023-11-23 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. West Texas Intermediate crude slid 86 cents, also about 1.1%, to $76.24 after dropping as much as 5% in the previous session. In a surprise move on Wednesday, the Organization of the Petroleum Exporting Countries and allies including Russia delayed to Nov. 30 a ministerial meeting at which they were expected to discuss oil output cuts. Angola, Congo and Nigeria were seeking to raise their 2024 supply quotas above the provisional levels agreed at the June meeting of the OPEC+ producer group, analysts said. The questions over OPEC+ supply come as data showed that U.S. crude stocks jumped by 8.7 million barrels last week, much more than the 1.16 million build analysts had expected.

Persons: Angus Mordant, Helima Croft, Tamas Varga, Natalie Grover, Arathy, Andrew Hayley, Mark Potter, David Goodman Organizations: REUTERS, Brent, . U.S . West Texas, Organization of, Petroleum, Producers, Capital Markets, Thomson Locations: Loving County , Texas, U.S, ., Russia, OPEC, Angola, Congo, Nigeria, Niger, Saudi Arabia, London, Houston, Beijing

☆ Oil down more than 1% as uncertainty swirls over delayed OPEC+ meeting
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. In a surprise move, the Organization of the Petroleum Exporting Countries and allies including Russia delayed to Nov. 30 a ministerial meeting where they were expected to discuss oil output cuts. Producers were struggling to agree on output levels and hence possible reductions ahead of the meeting originally set for Nov. 26, OPEC+ sources said. Analysts said that Angola, Congo and Nigeria were seeking to raise their 2024 supply quotas above the provisional levels agreed at the OPEC+ June meeting. U.S. oil rigs remained unchanged at 500 in the week to Nov. 22, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Wednesday.

Persons: Angus Mordant, Baker Hughes, Brent, Helima Croft, RBC's Croft, Arathy Somasekhar, Andrew Hayley, Sonali Paul, Muralikumar Organizations: REUTERS, OPEC, . U.S . West Texas, Trade, Organization of, Petroleum, Producers, RBC Capital Markets, ING Bank, U.S . Coast Guard, Thomson Locations: Loving County , Texas, U.S, ., United States, Russia, OPEC, Angola, Congo, Nigeria, Niger, Saudi Arabia, Gulf of Mexico, Houston, Beijing

OPEC+ said after its last meeting in June that the 2024 output quotas of Angola, Nigeria and Congo were conditional on reviews by outside analysts. "The postponement of the meeting also shows there are some different views among the group participants." A view of logo of the Organization of the Petroleum Exporting Countries (OPEC) at their headquarters in Vienna, Austria, June 2, 2023. Saudi Arabia, Russia and other OPEC+ members have already pledged oil output cuts of about 5 million barrels per day (bpd), or about 5% of daily global demand, in a series of steps that started in late 2022. This figure includes a 1 million bpd voluntary reduction by Saudi Arabia and a 300,000 bpd cut in Russian oil exports, both of which last until the end of 2023.

Persons: Giovanni Staunovo, Brent, Leonhard Foeger, Alexander Novak, Prince Abdulaziz bin Salman, Helima Croft, Croft, Nadine Awadalla, Nayera Abdalla, Ahmad Ghaddar, Vladimir Soldatkin, El, Alex Lawler, Jason Neely, Mark Potter, Kirsten Donovan, Deepa Babington Organizations: Oil, DUBAI, Organization of, Petroleum, REUTERS, Russian, Saudi Energy, OPEC, RBC Capital, Bloomberg News, Thomson Locations: LONDON, OPEC, Angola, Nigeria, Congo, Russia, Vienna, Austria, OPEC's Vienna, Saudi Arabia

A view of logo of the Organization of the Petroleum Exporting Countries (OPEC) at their headquarters in Vienna, Austria, June 2, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsSummary OPEC+ had been scheduled to meet on SundayOil drops almost 5% as delay raises questions about output cutsDelay shows there are some different views in group - analystDUBAI/LONDON, Nov 22 (Reuters) - OPEC+ has delayed a ministerial meeting expected to discuss oil output cuts to Nov. 30 from Nov. 26, OPEC said in a statement on Wednesday, a surprise development that sparked a further drop in oil prices. The delay to the meeting into next week might be to allow more time for countries to discuss both compliance with existing output cuts and potential additional cuts, an OPEC+ source said, declining to be named. Saudi Arabia, Russia and other OPEC+ members have already pledged oil output cuts of about 5 million barrels per day (bpd), or about 5% of daily global demand, in a series of steps that started in late 2022. This figure includes a 1 million bpd voluntary reduction by Saudi Arabia and a 300,000 bpd cut in Russian oil exports, both of which last until the end of 2023.

Persons: Leonhard Foeger, Giovanni Staunovo, Brent, Helima Croft, Nadine Awadalla, Nayera Abdalla, Ahmad Ghaddar, Vladimir Soldatkin, El, Alex Lawler, Jason Neely, Mark Potter, Kirsten Donovan Organizations: Organization of, Petroleum, REUTERS, Sunday, DUBAI, RBC Capital, Bloomberg News, Thomson Locations: Vienna, Austria, LONDON, Russia, OPEC, OPEC's Vienna, Saudi Arabia

☆ OPEC's big issue is getting Angola 'across the finish line', says RBC's Helima Croft
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPEC's big issue is getting Angola 'across the finish line', says RBC's Helima CroftHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: RBC's Helima Croft, Brian Sullivan, “ Organizations: CNBC Locations: Angola

☆ Oil retreats on caution ahead of OPEC+ meeting
▼ + stars: | 2023-11-21 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

Brent crude futures fell 51 cents, or 0.6%, to $81.81 a barrel by 0746 GMT, while U.S. West Texas Intermediate crude futures were at $77.32 a barrel, down 51 cents, or 0.7%. Both contracts climbed about 2% on Monday after three OPEC+ sources told Reuters that the group, made up of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, was set to consider whether to make additional oil supply cuts when it meets on Nov. 26. "Market participants have started to price in an extension of the current quantum oil supply cut into 2024 or even deeper cuts in the upcoming OPEC+ meeting," he added. OPEC+ is likely to extend or even deepen oil supply cuts into next year, eight analysts have predicted. Weekly stockpile reports from the American Petroleum Institute and the Energy Information Administration are due later on Tuesday and Wednesday, respectively.

Persons: Kelvin Wong, Helima Croft, Florence Tan, Yuka Obayashi, Sonali Paul, Jacqueline Wong Organizations: cnsphoto, REUTERS, Walmart Inc, SINGAPORE, Brent, U.S, West Texas, Reuters, Organization of, Petroleum, RBC Capital, Traders, Walmart, American Petroleum Institute, Energy Information Administration, Thomson Locations: Zhoushan, Zhejiang province, China, Singapore, OPEC, Saudi Arabia, U.S, Tokyo

☆ Not seeing a 'significant slowdown' in oil demand, says RBC's Helima Croft
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNot seeing a 'significant slowdown' in oil demand, says RBC's Helima CroftHelima Croft, RBC Capital Markets global head of commodity strategy, joins 'Closing Bell Overtime' to talk the state of the crude oil market as prices climb after slipping last week.

Persons: RBC's Helima Croft Helima Croft Organizations: RBC Capital Markets

☆ Oil set for third weekly decline as demand worries weigh
▼ + stars: | 2023-11-10 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Both contracts are set to fall about 5% on the week. "Concerns about demand have replaced the fear of production outages related to the Middle East conflict," Commerzbank said. Weak Chinese economic data this week increased worries of faltering demand. Additionally, refiners in China, the largest buyer of crude oil from the world's largest exporter Saudi Arabia, asked for less supply from Saudi Arabia for December.

Persons: Angus Mordant, Commerzbank, Helima Croft, Sudarshan Varadhan, Nick Macfie Organizations: REUTERS, Brent, U.S, West Texas, of, Petroleum, RBC Capital Markets, Citi, Thomson Locations: Loving County , Texas, U.S, refiners, China, Saudi Arabia, Russia, Singapore

☆ Why Are Oil Prices Falling While War Rages in the Middle East?
▼ + stars: | 2023-11-09 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: +5 min

Yet, after a few days of anxiety following the bloody Oct. 7 raids by Hamas militants in Israel, energy markets have been slumping. Mr. Alkadiri said that traders are unlikely to bid up prices unless they see “actual barrels removed” from the market. Saudi Arabia and other producers have been trying to support prices by reducing their oil output. Forecasters are warning that 2024 could be a difficult year in the oil markets. Haves and Have-notsAs the fighting continues, traders have figured out that when it comes to oil there are haves and have-nots in the Middle East.

Persons: Brent, hasn’t, ”, Richard Bronze, Raad Alkadiri, Alkadiri, Helima Croft, Croft, “, Biden, “ It’s Organizations: Eurasia Group, U.S . Energy Information Administration, ”, Group, American, RBC Capital Markets, Central Intelligence Agency Locations: Israel, London, China, Saudi Arabia, United States, East, Gaza, Iraq, Iran, Saudi, Hormuz, Ukraine, ”, Persian

☆ RBC Capital's Helima Croft talks crude oil markets tumbling to three-month low
▼ + stars: | 2023-11-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC Capital's Helima Croft talks crude oil markets tumbling to three-month lowHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Helima Croft, Brian Sullivan, “ Organizations: RBC, CNBC

SINGAPORE, Oct 27 (Reuters) - Oil prices rose by over $1 on Friday as reports that the U.S military struck Iranian targets in Syria raised concerns of a widening of the Israel-Hamas conflict that could impact supply from the key Middle East producing region. Though the strike did not directly impact supply, it increases fears that the conflict in the Gaza Strip between Israel, backed by the U.S., and Hamas may spread and disrupt supply from major crude producer Iran, which backs Hamas. A wider war could also impact shipments from Saudi Arabia, the world's largest oil exporter, and other large producers in the Gulf. Both Brent and WTI are on track to post their first weekly drop in three weeks as the geopolitical premium built on these fears has ebbed as there has been no disruption of oil supply outside of the immediate region of the fighting. Israeli forces carried out their biggest Gaza ground attack in their 20-day-old war with Hamas overnight, angering the Arab world.

Persons: Brent, WTI, Kelvin Yew, Benjamin Netanyahu, Helima Croft, Goldman Sachs, Florence Tan, Sam Holmes, Christian Organizations: U.S, Brent, U.S . West Texas Intermediate, Islamic Revolutionary Guard Corps, Pentagon, Ocean, Investments, RBC Capital, Thomson Locations: SINGAPORE, Syria, Israel, U.S, Iraq, Gaza, Iran, Saudi Arabia, United States, Hormuz, Russia

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